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Key Topics
Write on the topic growth in Australian agriculture sector for export market
6-7 references, 3-4 paragraphs( introduction, body and conclusion) diagrams, graphs etc mandatory, no plagrism
Introduction
The agriculture industry is expected to boom and touches the record of the $ 63.8 billion which is growing steadily past five years. As per the estimated figures for the future projection for the year 2020-21, it is estimated to touch to the $59.6 billion of the watermark (McCombie, 2017). These figures are projected by the ABRAES which is elaborated as an annual Australian Bureau of Agriculture and Resource Economics and Sciences, who further conclude that the overall production values would touch higher watermark, despite a few hiccups or declines (Zahid, 2016). The Australia Agriculture industry has recorded a tremendous increase with respect to the wheat, barley horticulture and the live stocks production. The key drivers remain as the wheat and the barley harvest which has touched the figures of the 2.6 percent with respect to the growing past years. It has been also estimated that the export values are forecasted towards the ever increase driver force on account of the increased crop production (Lyons, 2017). The Australia farm's exports stand at high records of the $ 48.7 billion during the year of the majorly due to the wheat and barley which have contributed to the gross value of the crop production at an estimated of $ 33.9 billion which is equal to 20%. It is also estimated that the there was a decline of the $ 30 billion during the year of the 2017-18 due to the global turbulence, but it has still made the production to come back at a steeper growth level. Even though there has been a plentiful global supply with respect to the wheat and the coarse grain prices which are steadily at a lower rate, still the value of the crop exports is projected at a decline of the production which is estimated to fall by the $ 26. 5 billion next year. For the sales of Australia in terms of the exports earnings of the wheat it has projected to increase by the 9% and for the coarse grains, it is still rising at an estimated figure of the 11% along with the canola at a 6%. For the other exports orientation for the agriculture industry, it is estimated that there is a surge of growth in sugar at a 10%, cotton at a 35% growth, while chickpea's exports are falling at a massive 42 percent in production. The reasons for the chickpeas are said to be due to the international fixing of prices and global turbulence.
Body
Australia collaborated with the United States and it is expected that the Australian market would be growing with the opportunities and maintaining a balance in the structure of its markets. Considering the Australian market, which is known for the quality and control purpose, has recently collaborated with the USA for a more reliance in terms of the Australian food control systems which is known for the safety of the production (Hatfield-Dodds, 2015). The main focus in the Agriculture business in this agreement is to focus, mainly on the canned foods, seafood along with the dairy products and quality of the fresh fruits and vegetables. The Australia agriculture business would flourish with the quality ensured products. The exports would have more demand across the other countries.
Th current Australian demographics have a double income group people who have an improved lifestyle and have a more focus on the quality controlled processed and consumer-ready products (Sheng, 2017). It has been found with the recent global changes, the Australian market have started to demand with respect to the USA food freshness, containing the elements of the wholesomeness along with the healthy lifestyles. The Australian people are also able to pay more. The below key statistics depict that as the 2015-26, the Agriculture has generated revenue business of the $ 236. 8 billion along with the profit of the 1$ 173 billion. It has also shown an annual projection growth of the 1.2% consistently year after year. The exports have also profited from the $ 39. 7 billion along with the forecasted business 161, 478. the agriculture business has shown a dramatic increase in the revenue and employment growth which has shown an average growth of the 6%. It has also been projected over the years the farm income would double from the current trend.
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The agriculture industry is significantly growing years after years, which has resulted in a great contribution to the economy and the statistics. It also indicates it is giving an optimum position of increased revenue along with the employment opportunities. This has made the industry to increase significantly resulting in the foreign investments in the sector. The agriculture industry is booming and has made a mark with respect to the global countries (Hartwell, 2017). Due to the Agriculture industry which is booming, it is making other industries grow such as agriculture equipment, consumer good processing, livestock industry etc. it has growing positive signs for the agriculture industry that is making the economy competitive and flourishing with a trade. It has also contributed to export revenue, which is making it grow significantly. The main Australian industry contributors are the wheat, horticulture, livestock production, global diary which has contributed to the economy by 1.39 billion. The consumer-oriented industry along with the intermediate food products has an equally contributed by the USD 1.06 billion and USD 175.5 million in the year of 2016. So far the Australian economy stands in the second position with respect tot he global economy (Jarrett, 2017). It is facing a stiff competition in New Zealand, US., Canda, India, China and many others. The domestic production has also risen significantly along with the foreign growing investments which are making the agriculture industry grow by leaps and bounds. The industry has a growing aspect with respect to the organic industry, health foods which are estimated at the USD 360 million and it also includes the cold beverages and the mineral water at a valuation of the USD 115 billion. All this has made the agriculture industry stand strong.
References
Jarrett, F. G., & Anderson, K. (2017). Growth, structural change, and economic policy in Papua New Guinea: implications for agriculture. Canberra, ACT: National Centre for Development Studies, Research School of Pacific Studies, The Australian National University.
Hatfield-Dodds, S., Schandl, H., Adams, P. D., Baynes, T. M., Brinsmead, T. S., Bryan, B. A., ... & McCallum, R. (2015). Australia is ‘free to choose’economic growth and falling environmental pressures. Nature, 527(7576), 49.
Hartwell, R. M. (2017). The industrial revolution and economic growth (Vol. 4). Taylor & Francis.
Lyons, K., & Lawrence, G. (2017). Institutionalisation and resistance: organic agriculture in Australia and New Zealand. In Food, Nature, and Society (pp. 81-100). Routledge.
McCombie, J., & Thirlwall, A. P. (2016). Economic growth and the balance-of-payments constraint. Springer.
Sheng, Y., Zhao, S., Nossal, K., & Zhang, D. (2017). Productivity and farm size in Australian agriculture: reinvestigating the returns to scale. Australian Journal of Agricultural and Resource Economics, 59(1), 16-38.
Zahid, H. J., Robinson, E., & Kelly, R. L. (2016). Agriculture, population growth, and statistical analysis of the radiocarbon record. Proceedings of the National Academy of Sciences, 113(4), 931-935.
Hatfield-Dodds, S., Schandl, H., Adams, P. D., Baynes, T. M., Brinsmead, T. S., Bryan, B. A., ... & McCallum, R. (2015). Australia is ‘free to choose’economic growth and falling environmental pressures. Nature, 527(7576), 49.
Hartwell, R. M. (2017). The industrial revolution and economic growth (Vol. 4). Taylor & Francis.
Lyons, K., & Lawrence, G. (2017). Institutionalisation and resistance: organic agriculture in Australia and New Zealand. In Food, Nature, and Society (pp. 81-100). Routledge.
McCombie, J., & Thirlwall, A. P. (2016). Economic growth and the balance-of-payments constraint. Springer.
Sheng, Y., Zhao, S., Nossal, K., & Zhang, D. (2017). Productivity and farm size in Australian agriculture: reinvestigating the returns to scale. Australian Journal of Agricultural and Resource Economics, 59(1), 16-38.
Zahid, H. J., Robinson, E., & Kelly, R. L. (2016). Agriculture, population growth, and statistical analysis of the radiocarbon record. Proceedings of the National Academy of Sciences, 113(4), 931-935.
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